7 Top Tips to Successfully Negotiate Your Salary
Articulate your Value to Get What You Deserve
It takes courage and planning to successfully negotiate your salary or a salary increase. In fact, it might be even more nerve-wracking to ask for a raise than it is to negotiate a new job offer. Negotiation is not only critically important, but it is also underutilized. In fact, Linda Babcock did a study for her book Women Don’t Ask where she found that about 7% of women attempted to negotiate, while 57% of men did.
Even though there is obviously a desperate need for women to take ownership and ask – even men do not completely feel comfortable in the negotiation process. Whether the fear of negotiation is rooted in past experiences, self-confidence or personality, negotiation can be very stressful. I’ve compiled a few easy tips to ensure that your salary negotiation experience is a positive one.
1. Understand & Articulate Your Value
In order to articulate your value to be persuasive in interviews or negotiation situations, I recommend that you develop your career contributions. Provide specific examples of how you have leveraged your skills and knowledge to positively impact the companies (and clients) you have worked for. This creates solid evidence that you deserve the best and why.
Get your Career Contributions guide below to help you discover, define and articulate your professional value:
>> Career Contributions Guide <<
While hard work and dedication are important, it’s challenging to ask for a certain salary “because I deserve it” or “because I work hard”. Have solid evidence in the form of impact stories as to WHY you deserve the best.
2. Research and Evaluate Your Salary Range
I’m sure that you are already aware, but understanding where you fall in your expected salary range is important for negotiation. You can do research on Glassdoor or Payscale for example. Another way to research is to talk to recruiters or look up other positions just like yours at simplyhired.com which often lists the estimated salary range.
Consider your years of expertise and abilities. Review your Impact Inventory as a reminder of your professional impact. Assume you deserve the top pay for your experience range – then back that up with the ‘why’ from your Impact Inventory.
3. Know Your Exact Number
It might sound trivial but ask for an uncommon and specific salary figure. There is some psychology in the art of negotiation. Most professionals ask for a ’round’ figure. If you don’t wish to haggle – be specific with your salary number. For example: instead of $65,000 … ask for $65,475.
When you ask for an uncommon exact figure, you are more likely to receive it. Your employer will assume that you have done research and will be less likely to use hard negotiation tactics. If you use a range – make sure that the lowest figure on the range is acceptable to you. Don’t be afraid to go a little high.
4. Pick Your Time Wisely
Don’t plan to meet with the decision-makers right before they leave on vacation or wait until your performance review. Start discussions well in advance of performance review time. “Start talking to your boss about getting a raise three to four months in advance,” writer and former human resources professional Suzanne Lucas of EvilHRLady.org told LearnVest. “That’s when they decide the budget.”
Crazy Data Fact: Studies have proven that Thursdays are the best days to ask for a raise! Salary negotiation meetings set on Thursdays and Fridays are more likely to have positive results.
5. Centered, Calm & Confident
Amy Cuddy stole the TED stage when she talked about Power Poses and how they can actually affect our self-confidence. Your body language is a huge factor in negotiation! Everything from how you walk in, to your eye-contact, handshake and facial expressions will largely determine your outcomes. Practice in front of a mirror or hone your handshake with friends.
It took an actual effort of will to hire a bright capable young man that had a limp ‘dead fish’ handshake. Much of our response to body language is hardwired into our psyche. Stay positive in your tone of voice and practice a neutral pleasant expression.
6. Take the Emotion Out
Sounds easy to do, but we are emotional creatures. If your first attempts at salary negotiation are rebuffed, don’t give up. Explain why you deserve better pay without being defensive or angry if you aren’t getting the response you’d like to see. Be diligent and keep trying at periodic intervals. Remain calm during the conversation, stick to the facts, and don’t be afraid to discuss your contributions to the company.
7. Don’t Ignore the Perks
There are some things worth more than money or could give you the same monetary net result, just in form of bonuses and the like. Ask for additional vacation time! You can negotiate a raise but, once you are hired, it’s almost impossible to negotiate more vacation time. Many of my clients don’t think to ask for more when offered the standard American ‘ two-week’ vacation allowance. Be very cautious and review all the details in writing (with signatures) before agreeing.
A survey by Salary.com revealed that only 37% of people negotiate their salaries. Of those people who negotiated, they were able to increase their salary by over 7%. Don’t let fear stand in between you and the salary you deserve!
A little bit about me …. my name is Erin Urban (LSSBB, CPDC), I’m a member of the Forbes Coaches Council, a keynote speaker, a certified career growth coach with almost a decade of mentoring and coaching successful professional transformations.
I help professionals achieve more influence, more impact, and more income!
Schedule a consultation call with me at: calendly.com/coacheurban
